Accelerant Holdings (NYSE:ARX) Stock Has Average Target Price of $17.98 According to Brokerages

Accelerant Holdings (NYSE:ARX) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.98.

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citizens Jmp lowered Accelerant from a “market outperform” rating to a “hold” rating in a report on Friday, August 14th. William Blair downgraded Accelerant from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Wells Fargo & Company lowered their price target on Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Finally, Morgan Stanley dropped their price objective on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, July 6th.

Insider Activity

In related news, insider Francis Oneill sold 89,219 shares of Accelerant stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $12.41, for a total transaction of $1,107,207.79. Following the completion of the transaction, the insider directly owned 6,369,290 shares of the company’s stock, valued at approximately $79,042,888.90. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Hasley sold 20,489 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $19.56, for a total transaction of $400,764.84. Following the transaction, the director owned 1,341,834 shares in the company, valued at $26,246,273.04. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 438,513 shares of company stock valued at $5,742,112. 66.59% of the stock is currently owned by company insiders.

Institutional Trading of Accelerant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in Accelerant in the first quarter worth about $28,000. GAMMA Investing LLC grew its stake in shares of Accelerant by 998.8% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $35,000 after buying an additional 1,598 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Accelerant by 543.3% during the third quarter. Sterling Capital Management LLC now owns 1,885 shares of the company’s stock valued at $37,000 after buying an additional 1,592 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Accelerant during the third quarter valued at approximately $38,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Accelerant by 73.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,157 shares of the company’s stock worth $82,000 after buying an additional 2,611 shares during the period.

Accelerant Stock Down 0.0%

Shares of NYSE ARX opened at $19.77 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.16. Accelerant has a 12-month low of $9.18 and a 12-month high of $19.90. The firm’s 50-day moving average price is $19.75 and its 200-day moving average price is $15.96. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -2.97 and a beta of 0.08.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The business had revenue of $303.90 million for the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. On average, equities research analysts anticipate that Accelerant will post 0.90 EPS for the current fiscal year.

Accelerant Company Profile

Accelerant Holdings is a technology-enabled specialty insurance platform that connects managing general agents (MGAs) with insurance and reinsurance capital providers. The company aims to help MGAs access capacity and support capital partners with data, underwriting insight and portfolio management tools.

Its services include underwriting support, risk selection, portfolio analytics and technology designed to improve the exchange of information between specialty insurance distributors and capacity providers.